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Consolidated Statement of Loss (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest income:        
Loans $ 146,314 $ 175,070 $ 304,285 $ 352,503
Investment securities 16,687 39,170 39,310 82,289
Money market investments 417 624 726 1,060
Total interest income 163,418 214,864 344,321 435,852
Interest expense:        
Deposits 49,525 63,766 103,584 129,732
Loans payable   1,265   3,442
Securities sold under agreements to repurchase 13,022 25,035 26,158 50,317
Advances from FHLB 4,219 7,587 8,964 15,281
Notes payable and other borrowings 2,217 (1,851) 4,901 1,155
Total interest expense 68,983 95,802 143,607 199,927
Net interest income 94,435 119,062 200,714 235,925
Provision for loan and lease losses 59,184 146,793 147,916 317,758
Net interest income (loss) after provision for loan and lease losses 35,251 (27,731) 52,798 (81,833)
Non-interest income:        
Other service charges on loans 1,456 1,486 3,174 3,242
Service charges on deposit accounts 3,054 3,501 6,386 6,969
Mortgage banking activities 9,336 2,140 15,927 4,640
Net gain on sale of investments 21,949 24,240 41,290 55,604
Other-than-temporary impairment losses on investment securities:        
Total other-than-temporary impairment losses   (3)   (603)
Noncredit-related impairment portion on debt securities not expected to be sold (recognized in other comprehensive income) (607)   (607)  
Net impairment losses on investment securities (607) (3) (607) (603)
Loss on early extinguishment of borrowings (1,823)   (1,823)  
Equity in losses of unconsolidated entities (1,536)   (1,536)  
Other non-interest income 7,033 8,161 16,536 14,999
Total non-interest income 38,862 39,525 79,347 84,851
Non-interest expenses:        
Employees' compensation and benefits 29,407 30,958 59,846 62,686
Occupancy and equipment 15,603 14,451 30,853 29,302
Business promotion 3,628 3,340 6,292 5,545
Professional fees 6,072 5,604 11,209 10,891
Taxes, other than income taxes 3,278 3,817 6,533 7,638
Insurance and supervisory fees 14,404 16,606 29,581 35,124
Net loss on real estate owned (REO) operations 5,971 10,816 11,471 14,509
Other non-interest expenses 8,068 13,019 13,512 24,278
Total non-interest expenses 86,431 98,611 169,297 189,973
Loss before income taxes (12,318) (86,817) (37,152) (186,955)
Income tax expense (2,606) (3,823) (6,192) (10,684)
Net loss (14,924) (90,640) (43,344) (197,639)
Net loss attributable to common stockholders $ (22,205) $ (96,810) $ (57,642) $ (209,961)
Net loss per common share:        
Basic $ (1.04) $ (15.70) $ (2.71) $ (34.04)
Diluted $ (1.04) $ (15.70) $ (2.71) $ (34.04)
Dividends declared per common share